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FUTU

Futu Holdings Ltd
CIK 0001754581 ยท EDGAR โ†—
cleanelevatedtriggeredno dataplanned
32.2
composite ยท 4 signals ยท CLEAN

Every card below shows the score and the exact filing data it was computed from โ€” no unexplained numbers. Some signals (P-02, P-03, P-08, P-09, P-10, P-11) pull live documents from SEC EDGAR the first time you view this company; a few of those (P-03, P-10, P-11) use AI to read the filing text, but every AI claim must quote the actual document verbatim or it's discarded โ€” never a guess.

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Signals

P-13 ยท FY 2023-12-31 ยท ELEVATED17.4

Zombie / distress

[FY2023 data, stale โ€” no more recent EBIT figure in XBRL] Interest coverage 0.70x below 1.0
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2024-04-24) โ†—
Evidence โ€” inputs and thresholds
{
  "icr_by_year": {
    "2025-12-31": null,
    "2024-12-31": null,
    "2023-12-31": 0.704
  },
  "consecutive_years_below_1": 1,
  "altman_z_double_prime": 2.636,
  "definitions": {
    "zombie": "ICR<1 for 3+ consecutive FYs (BIS 2018)",
    "z_distress": "<1.1 distress, 1.1-2.6 gray, >2.6 safe"
  },
  "inputs": {
    "ebit_t": 641089000,
    "interest_expense_t": 910759000
  },
  "stale": true,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1754581/000110465924051213/0001104659-24-051213-index.htm",
    "form": "20-F",
    "filed": "2024-04-24"
  }
}
P-01 ยท FY 2025-12-31 ยท CLEAN36.2

Earnings quality

Beneish M-Score -2.23 โ€” no manipulation profile
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-15) โ†—
Evidence โ€” inputs and thresholds
{
  "m_score": -2.233,
  "threshold": -1.78,
  "ratios": {
    "DSRI": 1,
    "GMI": 0.941,
    "AQI": 1.725,
    "SGI": 1.678,
    "DEPI": 0.854,
    "SGAI": 1,
    "LVGI": 0.999,
    "TATA": -0.129
  },
  "defaulted_to_neutral": [
    "DSRI",
    "SGAI"
  ],
  "sloan_accruals": -0.152,
  "inputs": {
    "revenue_t": 2935374000,
    "revenue_t1": 1749568000,
    "total_assets_t": 29349617000,
    "net_income_t": 1456671000,
    "cfo_t": 5240468000
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1754581/000110465926043451/0001104659-26-043451-index.htm",
    "form": "20-F",
    "filed": "2026-04-15"
  }
}
P-05 ยท FY 2025-12-31 ยท CLEAN20.9

Tax arbitrage

ETR 17.2% โ€” within normal range of statutory
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-15) โ†—
Evidence โ€” inputs and thresholds
{
  "etr_by_year": {
    "2025-12-31": 0.1721,
    "2024-12-31": 0.1528,
    "2023-12-31": 0.1485
  },
  "statutory_rate": 0.21,
  "gap_by_year": {
    "2025-12-31": 0.0379,
    "2024-12-31": 0.0572,
    "2023-12-31": 0.0615
  },
  "note": "Low ETR can be fully legitimate; this flags persistence + magnitude for review.",
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1754581/000110465926043451/0001104659-26-043451-index.htm",
    "form": "20-F",
    "filed": "2026-04-15"
  }
}
P-12 ยท FY 2025-12-31 ยท CLEAN21.5

Restatement predictor

F-Score 0.65 โ€” at or below the population base rate
trend: flat
Trend
Source: 20-F on SEC.gov (filed 2026-04-15) โ†—
Evidence โ€” inputs and thresholds
{
  "f_score": 0.646,
  "probability": 0.00239,
  "components": {
    "rsst": -0.152,
    "drec": null,
    "dinv": null,
    "soft": 0.9486,
    "dcs": 0.6778,
    "droa": 0.0153,
    "issue": 0
  },
  "model": "Dechow et al. 2011, Model 1 (simplified RSST)",
  "thresholds": {
    "elevated": 1,
    "triggered": 1.85
  },
  "stale": false,
  "latest_filing_period": "2025-12-31",
  "source": {
    "url": "https://www.sec.gov/Archives/edgar/data/1754581/000110465926043451/0001104659-26-043451-index.htm",
    "form": "20-F",
    "filed": "2026-04-15"
  }
}